ACADIA Pharmaceuticals Inc. Q1 FY2026 earnings call

Catherine mentioned Acadia delivered a solid start to the year with total revenue growth. Debut had strong growth with $101 million in sales, 20% year-over-year, and successful launch of Debut Sticks. New Plaza had $167 million in sales, 6% year-over-year growth, with referral growth and normalized refill dynamics. Pipeline updates included approaching phase two readout for remnifanserin in Alzheimer's disease psychosis and accelerated phase three study in Japan for tropinotide. Tom discussed Debut's strong quarter, launch of Debut Sticks with positive feedback. Liz provided R&D updates, including progress on pipeline programs. Mark reviewed financial results, including revenue, expenses, and cash position.

Total revenue for the first quarter was $268 million, up 11% compared to adjusted total revenue in the first quarter of 2025. Debut had revenue of $101 million, representing 20% year-over-year growth. New Plaza generated $167 million of net product sales in the first quarter, representing 6% growth year over year on an adjusted basis.

Reaffirmed 2026 net sales guidance for both Debut and New Plaza. Expect total revenue to be back-end loaded with greater sales contribution from both brands in the second half of the year driven by expanded New Plaza Field Force and broader availability of debut sticks. Full year 2026 total revenues expected to be 1.22 to 1.28 billion.

Questions and answers include inquiries about pipeline enrollment for remnifanserin in Alzheimer's disease psychosis and phase II study in Lewy Body Dementia Psychosis, biomarker-based selection in Alzheimer's trial, black box warning for remnifanserin, performance of Debut Sticks compared to expectations, key differences in remnifanserin vs Pimavanserin, read-through from Alzheimer's phase II study to Lewy body study, New Plaza's second quarter outlook, potential to file on positive results in placebo-controlled setting for remnifanserin, impact of gene therapy on Debut's guidance, powering of Alzheimer's study, persistency and re-engagement strategy for Debut, stocking and refill of Debut Sticks, endpoints in ADP and LBD trials, prescribing penetration dynamics for Debut, reexamination process in Europe, BD priorities and shipping disclosure for Debut